I guess I never realized back when you were looking at getting one that you had not held a Ruger American. It's no secret that the mags are different (all plastic and seem flimsy), and some people don't like them, plus I thought it was pretty well known that the ejection port isn't really set up for single feeding. (Sounds like you would be equally disappointed with a tikka t3 etc., same thing poly mag and small ejection port)
Edit to add this is why tikka just came out with the t3X to make the ejection port bigger, but it'll cost more than a T3. Sorry to hear you're disappointed. I was able to use Speer 130 flat points (handloaded) in the ones I have shot, and nosler 125gr.
Yes the bullet has to be seated a little deeper (for 130 flat point) so it won't bind up, but it works fine getting acceptable velocity and accuracy is great.

I'd say you should mess with it a little more before you give up on it.
Or you can always fork out more money and get a Remington 700 or Remington model 7 (neither uses mags, but can be blind fed)... for the price I think the Ruger American ranch delivers.
Good luck with it, I'll try to do some testing with the one I have used (belongs to a friend).